Published: Jun 16, 2021
Focus: North East Development Capital Fund
Notable transactions include the £1 million investment into Fintech platform, Pockit, as part of Pockit’s £15m Series B funding round to deliver on its ambitious expansion plans and embark on a recruitment drive to create 17 new jobs in Newcastle in 2021. Maven also led the £1.75 million investment in performance marketing services provider, Leaf Grow, to scale its engineering and data science teams, sales & marketing activities and to expand its Newcastle operations to deliver on its growth strategy.
Maven was appointed to manage the £27 million NEDCF in May 2018 to provide investment capital to support the growth of innovative and ambitious businesses across a wide range of sectors and in a variety of funding scenarios. Maven has participated in investments ranging from £350,000 to £7 million in local businesses across the North East and has also successfully leveraged an additional £5.8 million in private sector finance in the last 12 months alone.
Built on a proud history of innovation, the region is fast becoming a national powerhouse for technology businesses with a number of industry leading companies already based here. Product sampling platform, SoPost, named 49th in the 2020 Sunday Times Tech Track 100 list of the UK’s fastest growing technology companies, received investment from Maven in October to increase its footprint across key territories in Europe and North America, and build out its available consumer audiences.